IDEAS home Printed from https://ideas.repec.org/a/url/izvest/v23y2022i2p9-28.html
   My bibliography  Save this article

Basic industries of Russia’s industrial regions: The image of the future

Author

Listed:
  • Olga A. Romanova

    (Institute of Economics (Ural branch of RAS), Ekaterinburg, Russia)

  • Dmitry V. Sirotin

    (Institute of Economics (Ural branch of RAS), Ekaterinburg, Russia)

Abstract

Industrialisation remains the major factor of development in the era of radical changes. Its drivers – advanced digital production technologies – are transforming the entire industrial and spatial landscape. Industrial regions take a special role in these transformations. The research aims to identify trends in the development of basic industries in industrial regions and work out a method to form their new technological image. Methodologically, the study relies on the institutional theory, theories of sustainable and longterm technical and economic development; applies methods of comparative, statistical, structural analysis and neural network modelling. Considering the case of the Ural metal industries, the study reveals the main trends of development and possibilities of forming the image of future of the basic industries of Russia’s industrial regions, as well as specifies the factors that modify these trends under the New Normal. Due to institutional and technological transformations, the Russian metal industries have achieved impregnable positions in the world market. The paper substantiates the changes in the development of the basic industries linked with the formation of Industry 5.0 as the new management paradigm, which assigns priority to the ESG factors. The research demonstrates that an indispensable condition for the successful functioning of companies is the ability to cooperate and agree on decisions. The findings confirm that modernised metal and other basic industries through integrating green, digital and behavioural economy will not only maintain, but are likely to increase their importance in the economy of industrial regions.

Suggested Citation

  • Olga A. Romanova & Dmitry V. Sirotin, 2022. "Basic industries of Russia’s industrial regions: The image of the future," Journal of New Economy, Ural State University of Economics, vol. 23(2), pages 9-28, July.
    • Handle: RePEc:url:izvest:v:23:y:2022:i:2:p:9-28
    DOI: 10.29141/2658-5081-2022-23-2-1
    as

    Download full text from publisher

    File URL: https://jne.usue.ru/images/download/95/eng/1.pdf
    Download Restriction: no
    File URL: https://jne.usue.ru/en/issues-2022/1142
    Download Restriction: no
    File URL: https://libkey.io/10.29141/2658-5081-2022-23-2-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ya. P. Silin & E. G. Animitsa & N. V. Novikova, 2019. "Theories of economic growth and economic cycles in the research of regional processes of new industrialisation," Journal of New Economy, Ural State University of Economics, vol. 20(2), pages 5-29, May.
    2. Mulvaney, Dustin & Richards, Ryan M. & Bazilian, Morgan D. & Hensley, Erin & Clough, Greg & Sridhar, Seetharaman, 2021. "Progress towards a circular economy in materials to decarbonize electricity and mobility," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jeff Mangers & Meysam Minoufekr & Peter Plapper & Sri Kolla, 2021. "An Innovative Strategy Allowing a Holistic System Change towards Circular Economy within Supply-Chains," Energies, MDPI, vol. 14(14), pages 1-17, July.
    2. Grubert, E. & Zacarias, M., 2022. "Paradigm shifts for environmental assessment of decarbonizing energy systems: Emerging dominance of embodied impacts and design-oriented decision support needs," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    3. Oduro, Richard A. & Taylor, Peter G., 2023. "Future pathways for energy networks: A review of international experiences in high income countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 171(C).
    4. Koh, S.C.L. & Smith, L. & Miah, J. & Astudillo, D. & Eufrasio, R.M. & Gladwin, D. & Brown, S. & Stone, D., 2021. "Higher 2nd life Lithium Titanate battery content in hybrid energy storage systems lowers environmental-economic impact and balances eco-efficiency," Renewable and Sustainable Energy Reviews, Elsevier, vol. 152(C).
    5. Oleg S. Sukharev, 2021. "Functional approach in decision-making: Dysfunction and efficiency of rules and systems," Upravlenets, Ural State University of Economics, vol. 12(1), pages 2-17, March.
    6. Anne P. M. Velenturf, 2021. "A Framework and Baseline for the Integration of a Sustainable Circular Economy in Offshore Wind," Energies, MDPI, vol. 14(17), pages 1-41, September.
    7. Gao, Wang & Wei, Jiajia & Zhang, Hongwei & Zhang, Haizhen, 2024. "Does climate policy uncertainty exacerbate extreme risk spillovers between green economy and energy metals?," Resources Policy, Elsevier, vol. 91(C).
    8. Алимбаева Лаура // Alimbayeva Laura, 2023. "Оценка опережающих свойств краткосрочных экономических индикаторов Казахстана. // Assessment of leading properties of short-term economic indicators of Kazakhstan," Working Papers #2023-11, National Bank of Kazakhstan.
    9. Gao, Wang & Zhang, Haizhen & Zhang, Hongwei & Yang, Shixiong, 2024. "The role of G7 and BRICS country risks on critical metals: Evidence from time- and frequency-domain approach," Resources Policy, Elsevier, vol. 88(C).
    10. Valentina S. Antonyuk & Elmira R. Vansovich & Anastasiya S. Lapo, 2020. "Transformation in industrial specialization and features of economic development across the subjects of the Russian Federation," Journal of New Economy, Ural State University of Economics, vol. 21(1), pages 72-88, March.

    More about this item

    Keywords

    industrial regions; Russia; basic industries; metal industries; ESG; digitalisation; image of the future; neural network;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:url:izvest:v:23:y:2022:i:2:p:9-28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Blaginin (email available below). General contact details of provider: https://edirc.repec.org/data/usueeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.